Evolent Health (NYSE:EVH) Given New $14.00 Price Target at Truist Financial

Evolent Health (NYSE:EVH) had its price objective lowered by Truist Financial from $15.00 to $14.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on EVH. Citigroup reduced their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their price target on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. JMP Securities reaffirmed a “market outperform” rating and set a $12.00 target price on shares of Evolent Health in a research note on Friday, February 14th. Canaccord Genuity Group lowered their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Oppenheimer cut their price target on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.64.

Evolent Health Price Performance

EVH opened at $9.95 on Thursday. Evolent Health has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a 50 day moving average of $9.72 and a two-hundred day moving average of $13.97. The company has a market cap of $1.16 billion, a P/E ratio of -12.13 and a beta of 1.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. On average, analysts expect that Evolent Health will post 0.08 earnings per share for the current year.

Insider Activity

In other Evolent Health news, Director Brendan B. Springstubb acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the transaction, the director now owns 11,842 shares of the company’s stock, valued at $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel Joseph Mccarthy purchased 11,040 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.01 per share, with a total value of $99,470.40. Following the acquisition, the president now directly owns 389,004 shares of the company’s stock, valued at approximately $3,504,926.04. This trade represents a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 74,000 shares of company stock valued at $666,315 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Evolent Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cadian Capital Management LP acquired a new position in shares of Evolent Health in the fourth quarter valued at $58,781,000. Engaged Capital LLC grew its stake in Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after buying an additional 1,415,300 shares during the last quarter. Boston Partners raised its holdings in Evolent Health by 92.0% in the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock valued at $27,097,000 after acquiring an additional 1,171,304 shares during the period. Norges Bank acquired a new stake in Evolent Health during the fourth quarter worth approximately $12,519,000. Finally, Sea Cliff Partners Management LP bought a new stake in shares of Evolent Health during the fourth quarter worth approximately $9,338,000.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.